Colombia's urban jobless rate rose to 15.4% in November, from 10.4% in the same month of 2019, the government statistics agency said on Wednesday, based on surveys in the 13 biggest cities. The national unemployment rate was 13.3%, up from 9.3% a year earlier, the DANE agency said.
The Colombian Ministry of Finance issued a decree that establishes the conditions to issue treasury securities (TES) for $ 11.6 billion to finance the 2021 budget and for $7.6 billion for temporary treasury operations. The first article of Decree 1769 orders the issuance of class B TES for up to $ 11.6 billion in Colombian legal currency to finance the appropriations of the General Budget of the Nation for the fiscal period of 2021. The Finance decree also orders the issuance of TES Class B for up to $ 7.6 billion to finance temporary treasury operations. The term of these debt securities must be greater than 30 calendar days and less than one year. In the 2020 Medium-Term Fiscal Framework, the Government has contemplated emissions of TES for $ 15.6 billion for 2021.
Colombia's inflation in 2020 will hit the lowest level since records began due to the impact of the coronavirus on domestic consumption, a Reuters poll revealed on Wednesday, with analysts forecasting moderate price increases in 2021. Analysts predicted median consumer price increases of 1.45% this year, far below the central bank's targeted 3% and the 3.8% reported in 2019.
In order to finance the "Potable Water and Sanitation Program" in La Guajira region in northern Colombia, the National Government reported that the country is the first to secure a sovereign loan with the IDB (Inter-American Development Bank) in local currency, amounting to $ 53 million. Funds will be used to increase access to and quality of drinking water and basic sanitation services, as well as to improve the management capacity of local providers and support their regionalization process in order to to increase the coverage, quality and continuity of the domestic water supply and sewerage services in that area of the country.
In order to provide ideal mobility conditions for users of the national road network, the National Institute of Roads (Invías) awarded the ITS-VIITS Smart Roads project to Unión Temporal ITS Seguritech for a value of $16.3 million, which will improve road safety and connectivity and that the transport sector generates a lower environmental impact.
The Government of Colombia decreed a 3.5% increase in the minimum wage that around 2.5 million workers and pensioners will receive in the country during 2021, President Iván Duque reported on Tuesday, after it was not possible to agree on the rise between unions and unions. Thus, the amount of the salary was set at $259.9 dollars.
The Ministry of Transportation awarded 27 infrastructure projects that will be developed in four regions of the country and which are expected to generate 40,000 jobs. The awarded projects will be developed in the Coffee Region, oriental plains, Pacific and southern regions of the country, for a value of $ 598.5 million in 27 infrastructure projects.
Colombia's mines and energy ministry has issued a draft resolution that paves the way for the construction of a 700MW solar complex in the country's north. Slated for the municipality of Cimitarra, in Santander department, the Sebastosol complex is one of Latin America's largest solar PV energy initiatives. It forms part of a proposed $6 billion energy hub bordering Santander and Antioquia departments that would also include Latin America's first privately owned oil refinery, a 135MW combined cycle thermoelectric plant and a hydrogen production unit. Sebastosol is currently in the permitting phase, having already completed feasibility studies.
The Financiera de Desarrollo Nacional (FDN) confirmed its participation in the new financing structure of the Alto Magdalena 'Alma' project with an investment of 100.7 million. Of the 4th generation infrastructure projects planned in Colombia, 'Alma' is the longest with 190 kilometers, including 21 km of new roads, the improvement of 136 km, the rehabilitation of 33 km, and the construction of 404-meter and 760-meter bridges. Other companies that will participate in the financing of the project are Banco de Bogotá, the Ashmore Debt Fund - CAF, Blackrock, and the Sumitomo Mitsui Banking Corporation in association with the Mitsubishi UFJ Financial Group.
Latin American power utility AES Gener SA on Monday launched a USD-300-million (EUR 244.9m) capital increase to raise funds for wind, solar and battery storage projects in Chile and Colombia in 2021. In the follow-on offering, the company will sell 1.98 billion new shares at $0.155 apiece, it said.